Member Info for mrc_mrc_mrc_mrd

Imagine what a nice big chunk from AB would do to the SP! Wouldn't fancy shorting this share when a director buy could drop at any time.

Last buy was at around 9p - to be honest it is even better value now so can see another one dropping!!

Volume is huge, this should break out soon.

Market finally waking up to The position we are in at ENQ.

Hitman - Doubt the market is that worried about the marginal 2p reserves that have been lost. Those high cost barrels always flattered ENQ production numbers

Some 2p barrels more valuable than others!

Hi prime - they will be out for lunch now and they like a long one. Pints should be sunk by 1330 and back at the desks by 1400.

MBingo - agree the current POO and bullish expectations are game changing for ENQ.

Every dollar on oil is money going to debt repayment ($15 million over the year for every dollar)

Remember that brent was trading at $35 only a couple of months ago.

I see Brent has smashed through $55!!!

ENQ usually goes up after lunch once the city boys get over their hangover.

Can see ENQ above 14 pence today and 18p before the end of January.

A lot to like here

Keep yer punts on BOD brown noser

We should take Andrew off their hands. Shearwater not such a good fit.

From PMO -

Andrew Area (50%-100% interests in 5 fields, operatorship): currently producing c.18 kboepd (net to BP) with material near term upside through further development of the Andrew Lower Cretaceous reservoir

·; Shearwater (27.5% interest): significant producing and infrastructure hub, adding 25 mmboe of reserves and resources with incremental investment opportunities and tariff income

If there are near field opportunities then even better!

Exactly mather. The money scir put in to HE1 pre listing was a terrible investment. Could have waited a few years and got in a hell of a lot cheaper. Even now any UK punter could get a considerably cheaper stake in HE1 on the open market!

Helium might be a great idea but like all investments timing is key. Solo bought way too early and overpaid. In their new disguise as SCIR they failed to buy at the low IPO price. And now they seem to be failing to sell when the price is high.

Just a catalogue of really poor investment decisions. HE1 is a listed company. sCIR should sell the stake and provide a special divodend or share buy back and let us decide if we want a piece of helium.

Could happen bondsan

I personally think unlikely cairn would want more of Kraken at a price AB would sell it. ENQ having the lions share holds their focus. That is good for Cairn. Maybe they could team up for the BP assets - cairn paying cash for a minority stake and ENQ taking a larger stake with vendor loans and Profit sharing.

BBC News - Two more life-saving Covid drugs discovered
https://www.bbc.co.uk/news/health-55574662

This could be a huge win win situation for ENQ / BP

Not many companies trying to do what enquest do now that could handle this scale of operations. Little cash up front for BP but in the long run they benefit from improved FCF from the assets under ENQ management.

Sounds like it could be a nice bargain for ENQ if they can stretch to it. Even if it is another profit share deal it helps a lot with clearing the bonds

Chris - 300% would be better than any deal the BOD or solo has ever achieved. The shares are worth nothing until they are converted to cold hard cash. Nothing has changed since the IPO so the logical thing is to sell (or reduce exposure). They could cash in for a million and let the other 800000 ride for the drill.

AA - Yes a 60% profit in a day is pretty awesome return and i would have been happy for them to take it. As I have said - they have screwed up one way or another, either by undervaluing the asset at IPO or by looking the gift horse of 300% in the mouth.

Chris - I suppose the BOD could be selling at the moment so I will give them the benefit of the doubt on that. If they are not selling then they are insane. HE1 is non core and goes against their strategy of acquiring production and becoming a mid cap (LMFAO).

They thought it was only worth 2.5p a few weeks ago when they decided not to participate in the IPO. They are now being offered 3X that!!

The prudent action would be to take the 300% profit.

Either the BOD screwed up by letting the IPO happen so cheaply without maintaining their %.

Or the BOD is screwing up by not offloading their remaining % at what they believe to be around 4x fair value!!!

Aerial - no contradiction in my post. I would still like HE1 stake to be sold. It's a distraction and a gamble on the drill bit. Clearly BOD did not think HE1 is worth 2.5p, so why the heck are they not selling it now? It matters not what the original investment was - SCIR felt fair value was at or below 2.5p so they should be biting off investors hands to sell at 8p!!!

Personally I think HE1 is overvalued and the SP will drop. It didn't happen as I thought, but I would be very surprised if it is not below 2p in the next year or 2.

GKP does look quite cheap. ENQ realised oil prices higher, and we have about double the volume. Also safer jurisdiction, better route to market, etc.

If you want a bet on medium / longer term higher POO then enquest is the best bet IMHO. Debt is really holding this back but with brent at $60 that is gone within 3 years and can be added onto the market cap - so should see market cap around 5 times higher in 3 years time of POO can average $60!